TechNews Daily: Morgan Stanley faces subpoena over Facebook IPO

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The Washington PostWednesday, May 23, 2012
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The Circuit: White House mandates mobile access, Google in Europe, Facebook faces lawsuits

By Hayley Tsukayama

Move to mobile: On Wednesday, President Obama set a target for all federal agencies to make their information more accessible over mobile devices by the end of this year.

"Americans deserve a government that works for them anytime, anywhere, and on any device," Obama said in a statement. "By making important services accessible from your phone and sharing government data with entrepreneurs, we are giving hard-working families and businesses tools that will help them succeed."

Google faces more questions from Europe European regulators on Wednesday pressed Google for more information about its new privacy policy, saying the Web giant's response to questions so far has been "often incomplete or approximate."

France's Commission Nationale de L'Informatique et des Libertés, or CNIL, sent additional questions to the Silicon Valley search firm as it investigates the company's privacy policy changes for potential harm to consumers.

Google was asked to respond to the questions by June 8.

Facebook, Nasdaq, face lawsuits: Retail investors are suing Nasdaq and Facebook, Reuters reported, claiming that the exchange was negligent when it handled the orders. The report says that suits have been filed in U.S. District Court of Manhattan, as well as in California.

According to a press release from the firm Glancy, Binkow and Goldberg, the suit alleges Facebook and the deal's underwriters cut their earnings forecasts and passed the information to only a "handful of large investor clients." The complaint, Lazar v. Facebook, Ine., et al., was filed in the Superior Court for the State of California.

Facebook responded to questions about the lawsuits in a statement Wednesday, saying, "We believe the lawsuit is without merit and will defend ourselves vigorously."

Google, Oracle: A California jury has ruled that Google is cleared of infringement on any patents owned by Oracle in the company's trial to determine whether or not the search giant improperly used Java APIs while developing Android.

In a statement, Google spokesman Jim Prosser said, "Today's jury verdict that Android does not infringe Oracle's patents was a victory not just for Google but the entire Android ecosystem."

The three-phase trial, which first examined whether Google had infringed on copyrights held by Oracle, will now move on to determine damages.


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